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Dangote Refinery Reduces Petrol Price To N825 Per Litre

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NNPC Deploy Hundreds Of Trucks For Dangote Refinery’s Petrol Distribution

For the second time in February, Dangote Petroleum Refinery has lowered the ex-depot price of petrol, News About Nigeria reports.

The price has dropped from N890 to N825 per litre, a decrease of N65. Earlier in the month, the refinery had reduced the price by N60 per litre.

The refinery, which has a daily refining capacity of 650,000 barrels, initially sold petrol at N950 per litre in January.

With the latest reduction, the total price cut within 26 days amounts to N125 per litre.

This means that in Lagos, motorists will now pay between N860 and N865 per litre at fuel stations.

The new pricing takes effect on Thursday, February 27.

The refinery stated that the move is intended to ease financial pressure on Nigerians, especially with the upcoming Ramadan season.

It also aligns with the economic policies of President Bola Ahmed Tinubu’s administration.

Dangote Refinery has previously lowered fuel prices to provide relief.

In December 2024, during the festive period, the company reduced the price of petrol by N70.50 per litre, helping to prevent fuel shortages and price hikes common during the holiday season.

The refinery has assured consumers of an uninterrupted supply of fuel across the country through major distributors like MRS Holdings, Ardova Petroleum (AP), and Heyden. Petrol prices will vary across regions:

– Lagos: N860–N865 per litre
– South-West: N870–N875 per litre
– North: N880–N885 per litre
– South-South/South-East: N890–N895 per litre

With over 500 million litres of petrol in storage, Dangote Refinery said it has enough supply to meet national demand while also exporting refined products to international markets, including Europe, America, and Asia.

The company has called on fuel marketers to pass on the price reduction to consumers, ensuring affordability and stability in the market.